Constellation Grows US Wine Depletions by 2%

Dear Client: Wholesaler sales to retailers (or depletions) for Constellation's total US wine business grew 2% in the third quarter (Sept-Oct-Nov) for fiscal 2011. Depletions for its focus brands - which include Robert Mondavi, Blackstone, Estancia, Kim Crawford, Simi and Wild Horse - grew almost 10%. North America wine net sales were even with the third quarter in fiscal 2010. This reflected "favorable product mix," which was offset by a decrease in US shipment volume "as the number of distributors